https://www.taxtmi.com/caselaws?id=286427 The High Court upheld the Tribunal's decision to delete the disallowance of Rs. 70,00,000 under section 68 of the Income Tax Act, emphasizing the avoidance of double taxation. The Court also addressed the issue of deduction under section 80HHC, noting the assessee's stance on not claiming the deduction for the disputed amount, thereby avoiding the need for remand proceedings. en-us Tue, 03 Jul 2012 00:00:00 +0530 Mon, 27 Mar 2023 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286427 The High Court upheld the Tribunal's decision to delete the disallowance of Rs. 70,00,000 under section 68 of the Income Tax Act, emphasizing the avoidance of double taxation. The Court also addressed the issue of deduction under section 80HHC, noting the assessee's stance on not claiming the deduction for the disputed amount, thereby avoiding the need for remand proceedings. Case-Laws Income Tax Tue, 03 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286427